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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 13 September 2018 - onwards
  Version 2 of 2    

64C. Requirement for authorised persons to notify regulator of disciplinary action

(1) If -

(a) an authorised person takes disciplinary action in relation to a relevant person, and

(b) the reason, or one of the reasons, for taking that action is a reason specified in rules made by the appropriate regulator for the purposes of this section,

the authorised person must notify that regulator of that fact.

(2) "Disciplinary action", in relation to a person, means any of the following -

(a) the issuing of a formal written warning;

(b) the suspension or dismissal of the person;

(c) the reduction or recovery of any of the person’s remuneration.

(3) "The appropriate regulator" means -

(a) in relation to PRA-authorised persons, the FCA or the PRA;

(b) in relation to any other authorised persons, the FCA.

(4) "Relevant person" has the same meaning as in section 64B.

(5) [deleted]

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